💻 VGT Drops as NVIDIA, Microsoft, AMD Lead Tech Selloff | Tech Sector Insights
(VGT) slid 2.1% Tuesday, weighed down by sharp declines in NVIDIA, Microsoft, Broadcom, AMD, and Oracle. NVIDIA and Microsoft faced cybersecurity concerns tied to Israel, while AMD fell on Intel competition and processor leaks. The S\&P 500 also slipped 0.68%, echoing broad market weakness.
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Tuesday, August 19
VGT [-2.1%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has declined by 2.1% during market hours on Tuesday. Significant contributors to this downturn include NVIDIA, Microsoft, Broadcom, Advanced Micro Devices (AMD), and Oracle, all of which experienced notable price drops. NVIDIA's performance was particularly affected by concerns regarding its operations in Israel and cybersecurity vulnerabilities. Microsoft also faced scrutiny related to these issues while its investment in OpenAI is valued at approximately $500 billion. AMD's stock price fell due to intensified competition from Intel and leaks about upcoming processors, despite its growing market share in the CPU sector. Meanwhile, the S&P 500 Index has decreased by 0.68%, reflecting broader market sentiment that may be influencing the technology sector's performance.